(Reuters) – AstraZeneca said on Thursday that a combination of its cancer drug Lynparza and abiraterone has been approved in the United States for the treatment of BRCA-mutated metastatic castration-resistant prostate cancer. The company said the combination treatment reduced the risk of disease progression or death by 76% compared with usage of abiraterone alone. (Reporting…
By Aishwarya Venugopal (Reuters) – Weak profit forecasts from department store chain Macy’s to discounter Dollar General on Thursday underscored the fragile health of the U.S. consumer as persistent inflation curbs spending. Several U.S. retailers said sales have ebbed as consumers react to higher prices for food and other essentials. Broadly, U.S. consumer spending trends…
By Andy Sullivan WASHINGTON (Reuters) – The bipartisan debt-ceiling deal that could clear Congress as soon as Thursday would stave off an imminent U.S. default, but might deliver less budget savings than Republicans have hoped for, according to nonpartisan budget analysts. The agreement ensures that President Joe Biden will not have to grapple with another…
(Corrects title in last paragraph) (Reuters) – Stellantis will invest 160 million euros ($176.13 million) at its Rennes plant to launch a 100% electric compact Sports Utility Vehicle (SUV) in 2025, the Franco-Italian-American car manufacturer said on Thursday. Stellantis will use the investment to set up a battery assembly workshop as well as one dedicated…
By Granth Vanaik (Reuters) – Hormel Foods Corp reaffirmed its annual sales and profit forecasts even as its second-quarter revenue missed estimates, sending the company’s shares up as much as 8% in early trade. Multinational meat packers have gradually bumped up the prices of their goods over the past year to battle rising labor, freight…
By Andrew Chung (Reuters) -The U.S. Supreme Court on Thursday gave Salesforce Inc’s Slack Technologies another chance to avoid a lawsuit over the workplace communications software company’s 2019 direct listing. In a 9-0 ruling, the justices threw out a lower court’s decision that had let the proposed class action lawsuit filed by shareholder Fiyyaz Pirani…
WASHINGTON (Reuters) – U.S. construction spending surged in April, boosted by investment in nonresidential structures, but higher mortgage rates continued to depress single-family homebuilding. The Commerce Department said on Thursday that construction spending jumped 1.2% after rising 0.3% in March. Economists polled by Reuters had forecast construction spending climbing 0.2%. Construction spending shot up 7.2%…
By David Shepardson WASHINGTON (Reuters) -U.S. auto safety regulators have stepped up a long-running investigation into potentially defective air bag inflators that can cause metal fragments to strike vehicle occupants, saying it required auto supplier ARC Automotive Inc to answer questions. The National Highway Traffic Safety Administration (NHTSA) in May demanded the recall of 67…
CAPE TOWN (Reuters) – The BRICS Summit of heads of state will be held in Johannesburg in August, Foreign Minister Naledi Pandor said on Thursday, after speculation that it could be held elsewhere. (Reporting by Wendell Roelf and Nellie Peyton; Writing by Bhargav Acharya)
WASHINGTON (Reuters) – U.S. manufacturing contracted for a seventh straight month in May as new orders continued to plummet amid higher interest rates, but factories boosted employment to a nine-month high. The Institute for Supply Management (ISM) said on Thursday that its manufacturing PMI fell to 46.9 last month from 47.1 in April. It was…
